Max Raine, former chairman of Raine & Horne, passes away aged 91

The Raine & Horne board made the announcement on Friday that Mr Raine, 91, died on Wednesday at Sydney's Drayton House aged care facility in Rose Bay following a battle with dementia over the last couple of years.

Brian Reid, director of Raine & Horne Group, who worked side by side with Mr Raine as the group's former CEO as well as during a previous stint in investment sales in the 1980s, said: "The real estate industry has lost one of its most forceful and influential advocates with the passing of Max Raine."

Mr Raine was the third generation Raine family member to lead the Raine & Horne property group.

Born in 1931, Max Raine attended Sydney Grammar. He joined the family business of Raine & Horne at age 18, rising to become chairman in 1973. Mr Raine remained an active leader within the firm until his retirement in 2011.

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Mr Raine was a key innovator in Australia's real estate industry, pioneering the growth of suburban real estate offices in the late 1960s and introducing franchising to the property industry in the 1970s.

Under Mr Raine's stewardship, the Raine & Horne brand grew to over 300 offices across Australia. He also pioneered the first overseas franchised offices by launching a network in Malaysia in the late 1980s.

"Max was a driving force in the generational change that saw the emergence of national franchising businesses in the 1970s and 1980s," Mr Reid said.

Under Mr Raine's guidance, Raine & Horne became a leading brand in Australia and internationally.

Today, over 3000 people globally are part of the Raine & Horne Group, which sold $10 billion worth of real estate and managed over 120,000 properties worldwide in 2022.

"Max could see the continuing sophistication of the commercial property market along with the emergence of listed property trusts and launched Raine & Horne Commercial in 1984 as a separate brand that boasts 36 offices around Australia today," Mr Reid said.

"During his leadership, Max was responsible for lobbying the government and was constantly quoted in the media resulting in many changes to the industry and legislation.

"I know many people in the past would have received one of Max's penned handwritten letters to suggest some alternative to an opinion they might have expressed, or of course, to congratulate them on an anniversary or a birthday.

"He was also prolific in his letters to offices who had achieved a positive mention in the press. Many of our principals still have these handwritten letters today.

"Although we all have fond memories of Max, there are some underlying characteristics that we all remember as part of his larger-than-life persona, such as his sharp wit, canny business mind, but most importantly, his genuine concern for others which is best typified by his love of family and friends.

"We have all lost someone very special."

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Mr Raine served on many boards and committees, including the City Branch of the Real Estate Institute of NSW, Council of Auctioneers Education Committee, Corporate Committee of the Building Owners and Managers Association (BOMA), Anglican Retirement Villages Foundation, Barnardos and Edina Retirement Villages.

In 1988, Mr Raine was appointed by the NSW Government as Chairman Ministerial Enquiry into Inner City Accommodation.

Mr Raine is survived by his wife Susan, children Rebecca, Julia, Georgina, and son Angus - the current executive chairman of Raine & Horne Group - as well as daughter-in-law Natasha and son-in-law Andrew Howard, 14 grandchildren and one great-grandchild.

Of his father, Angus Raine said: "There is a hole left in my family that will eventually repair but will never be replaced.

"At our upcoming state and national awards, we are celebrating 140 years of our business success, and now we will also celebrate my father's life too."

Max Raine's funeral details will be announced in the next few days.